{"data":{"id":"us-ky/krs-18a.235","jurisdiction":"us-ky","citation":"KRS 18A.235","heading":"Kentucky Public Employees Deferred Compensation System established --","body":"Corporate powers.\nThe Kentucky Public Employees Deferred Compensation System is established pursuant\nto the provisions of KRS 18A.230 to 18A.275, and shall transact all of its business and\nshall have the powers and privileges of a corporation, including but not limited to the\nfollowing powers:\n(1) The board shall have the power and authority to purchase fiduciary liability\ninsurance; and\n(2) The board shall reimburse or advance any trustee, officer, or employee for any legal\nexpense resulting from a civil action arising out of the performance of his or her\nofficial duties. The hourly rate for any contract for legal services under this\nsubsection shall not exceed the maximum h ourly rate provided in the Legal\nServices Duties and Maximum Rate Schedule promulgated by the Government\nContract Review Committee established pursuant to KRS 45A.705, unless a higher\nrate is specifically approved by the secretary of the Finance and Admini stration\nCabinet or his or her designee.","path":["KRS Chapter 18A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56492","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:40Z","sha256":"a67cbe1b2c5cd6eadfe8ebcb40a822a2c75d465f20e856372400abc42ec1bf09","source_id":"us-ky","stale":false,"prev":"us-ky/krs-18a.230","next":"us-ky/krs-18a.240"},"notice":"GroundRules: Original legal text. Not legal advice."}